UPDATE: Janco Partners Upgrades Central European Media Enterprises to Buy Following Structural Improvement Efforts

In a report published Tuesday, Janco Partners analyst Tim Hamby upgraded the rating on Central European Media Enterprises CETV from Accumulate to Buy and announced a price target of $4.24.

In the report, Janco Partners noted, “We are encouraged by Central European Media's recently initiated efforts to improve its capital structure through series of share offerings and debt repurchases, as we believe added liquidity will leave Company well positioned to efficiently capitalize any macroeconomic recovery in Central and Eastern Europe.”

Central European Media Enterprises closed on Monday at $3.51.